Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $29.1333.

Several analysts have weighed in on NRIX shares. Truist Financial assumed coverage on Nurix Therapeutics in a report on Monday, November 24th. They issued a “buy” rating and a $30.00 price target on the stock. Mizuho raised their target price on shares of Nurix Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Needham & Company LLC reiterated a “buy” rating and set a $26.00 target price on shares of Nurix Therapeutics in a research report on Monday, December 8th. Wall Street Zen cut shares of Nurix Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 11th. Finally, Morgan Stanley set a $36.00 price objective on shares of Nurix Therapeutics and gave the company an “overweight” rating in a research report on Thursday, January 8th.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,284 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $12.56, for a total transaction of $78,927.04. Following the sale, the chief financial officer owned 37,592 shares in the company, valued at $472,155.52. This trade represents a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gwenn Hansen sold 4,087 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $12.80, for a total value of $52,313.60. Following the completion of the transaction, the insider owned 76,751 shares of the company’s stock, valued at $982,412.80. The trade was a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,501 shares of company stock worth $171,305 in the last 90 days. Company insiders own 7.40% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wexford Capital LP bought a new position in Nurix Therapeutics during the third quarter valued at approximately $41,000. Tower Research Capital LLC TRC grew its holdings in shares of Nurix Therapeutics by 118.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock valued at $73,000 after purchasing an additional 3,475 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new position in shares of Nurix Therapeutics during the 3rd quarter valued at $100,000. 49 Wealth Management LLC purchased a new position in Nurix Therapeutics in the 3rd quarter worth $108,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Nurix Therapeutics in the third quarter worth $109,000.

Nurix Therapeutics Stock Performance

Nurix Therapeutics stock opened at $18.24 on Wednesday. Nurix Therapeutics has a fifty-two week low of $8.18 and a fifty-two week high of $22.50. The stock has a market cap of $1.40 billion, a P/E ratio of -6.14 and a beta of 1.93. The firm’s fifty day moving average price is $17.74 and its 200-day moving average price is $13.05.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.